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Entities affiliated with the LAB team continued to sell tokens on the token unlock date; the peak allocation reached $977 million and currently stands at approximately $4 million.
Svmuu News: According to monitoring by on-chain investigator Specter, LAB tokens were unlocked today, and an entity affiliated with the team is still selling LAB; the current price has fallen by 99%. At the peak of LAB’s price, the book value of these allocations was nearly $977 million; their current value is approximately $4 million. Specter states that this entity is actively selling, causing the price to continue falling. The LAB price was previously manipulated upward, ultimately becoming a classic case of “pump-and-dump.” Although ZachXBT has publicly pointed out this behavior on multiple occasions and on-chain evidence exists, no exchange has yet taken action to stop or address it.
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